River & Mercantile Asset Management LLP acquired a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,420 shares of the business services provider’s stock, valued at approximately $221,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in shares of Kelly Services by 684.8% in the first quarter. Parallel Advisors LLC now owns 2,841 shares of the business services provider’s stock valued at $36,000 after buying an additional 2,479 shares during the period. Assetmark Inc. acquired a new position in shares of Kelly Services in the fourth quarter valued at approximately $39,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Kelly Services in the fourth quarter valued at approximately $39,000. Federated Hermes Inc. increased its stake in shares of Kelly Services by 46.4% in the first quarter. Federated Hermes Inc. now owns 3,125 shares of the business services provider’s stock valued at $40,000 after buying an additional 990 shares during the period. Finally, US Bancorp DE increased its stake in shares of Kelly Services by 43.7% in the first quarter. US Bancorp DE now owns 4,611 shares of the business services provider’s stock valued at $59,000 after buying an additional 1,403 shares during the period. 67.51% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on KELYA shares. ValuEngine upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Friday, June 5th. TheStreet cut Kelly Services from a “c” rating to a “d+” rating in a report on Monday, May 4th. Zacks Investment Research cut Kelly Services from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Noble Financial cut Kelly Services from an “outperform” rating to a “market perform” rating and set a $28.00 target price on the stock. in a report on Thursday, April 16th. Finally, BidaskClub upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Friday, June 5th. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $25.00.
Shares of Kelly Services stock traded down $1.00 on Thursday, reaching $14.23. 3,445 shares of the company’s stock were exchanged, compared to its average volume of 254,554. The company has a market capitalization of $689.35 million, a P/E ratio of -8.74 and a beta of 1.08. Kelly Services, Inc. has a 52 week low of $10.13 and a 52 week high of $28.91. The firm’s 50-day moving average is $14.36 and its two-hundred day moving average is $17.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.62 and a current ratio of 1.62.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. Kelly Services had a positive return on equity of 6.35% and a negative net margin of 1.20%. Kelly Services’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, analysts expect that Kelly Services, Inc. will post 0.35 EPS for the current fiscal year.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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